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| 1. Meeting the Re-Entry Term requirements at the next renewal will result in retention of rating with the same level of benefit issued at the attained age (T or F) |
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| 2. A Whole Life Policy has these characteristics: famount and premiums ae always level, settlementment options are available to the owner and beneficiary, cash value equals the face amount age 100, and the policy does not have nonforfeiture values. (T or F) |
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Definition
| -False does not have settlement options are available to the owner and beneficiary. |
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| 3. An Interest Sensitive Whole Life policy helps to hedge inflation because of the higher _____ of _____ |
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| 4. A Single Premium Whole Life is paid up when the offer and acceptance are completed. (T or F) |
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| 6. Name the two life insurance policies that require a securities license to solicit. ____ and ____ |
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Definition
| -Whole Life and Variable Whole Life |
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| 7. May the policyowner change the type of coverage in an Adjustable Life Policy as well as the amount of premium and coverage within the confines of the policy? (Y or N) |
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| 8. Jane may pay a flexible premium or skip some premiums.The policy does not contain any separate accounts.What type of policy does she have? |
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| 9. Parents might purchase life insurance on themselves to provide guaranteed insurablity on a child when the child reaches legal age. (T or F) |
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| 10. The Waiver of Payor Premium would best fit a ___ _____ policy. |
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11. A Living Needs rider would not pay an insured a disablity income. (T or F).
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| 12. If a policy is issued having a Waiver of Premium with Disability Income as a rider, a disabled insured would receive a montly income. (T or F) |
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| 13. Term Insurance has a higher premium than that of whole life. (T or F) |
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| 14. Whole life increases in value at each anniversary as the premiums increase. (T or F) |
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| 15. The cash value of a Limited Pay Life policy will equal the face amount at what age? |
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| 16. A policy written on the life of a minor best describes a Juvenille policy. (T or F) |
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